News Release

Woodmen of the World President to Step Down; Board Names King 12th President

September 19, 2012

Cummins

King

Omaha, Neb. - Woodmen of the World Life Insurance
Society has announced that President and CEO Danny E. Cummins will retire October
1, 2012. The
board of directors has named Larry R. King as the organization's 12th
president, effective October 1, 2012.

A native of Brooksville, Ky., and a former educator, Cummins has
been with the organization since 1982, and became president in 2008. He has been active in several area
organizations including the Nebraska Humane Society, Goodwill Industries Board
of Directors and the American Saddlebred Association. Cummins is also a member
of the Board of Trustees for the Greater Omaha Alliance for Business Ethics.

Larry E.
King is currently Executive Vice President, Fraternal at Woodmen of the World.
King began his Woodmen of the World career as a Field Representative in
Kentucky East in 1974 and was promoted to Area Manager in 1982. Recognized as
one of the organization's top sales producer for more than 30 years, King
served as State Manager in both Tennessee and Georgia before joining the Home Office
executive team. King graduated from the University of Kentucky and has a master's degree from Morehead State University.

Woodmen of the World was founded in 1890 as a
not-for-profit. We give back to our customers and the communities we live in.
Today, Woodmen of the World offers insurance, annuities, mutual funds,* and 529
College Savings Plans.* More than 700,000 Woodmen of the World members across
the country share a commitment to family, community and country. To learn more
about Woodmen of the World, visit woodmen.org.

A+ Financial Rating
Woodmen of the World has been awarded a rating of A+ (Superior), the second highest ranking out of 15, for its financial strength and operating performance by A.M. Best, one of the nation's leading independent rating organizations.

Life insurance and annuity products are issued by Woodmen of the World Life Insurance Society and/or Omaha Woodmen Life Insurance Society, a Nebraska corporation that is licensed as Woodmen of the World Life Insurance Society (Woodmen of the World) in all states and the District of Columbia, except CA, CO, ID, MT, NV, OR, UT, WA, and WY. In those states, Woodmen of the World is licensed as Omaha Woodmen Life Insurance Society (Woodmen). For consumers in those states, Woodmen of the World means Woodmen. Not all products are available in all states. Not all Representatives are licensed to sell all products.

Securities are offered through Woodmen Financial Services, Inc., 1700 Farnam Street, Omaha, NE 68102, 877-664-3332, member FINRA/SIPC, a wholly owned subsidiary of Woodmen of the World Life Insurance Society and/or Omaha Woodmen Life Insurance Society. Securities other than the Woodmen Variable Annuity are issued by companies that are not affiliated with Woodmen of the World Life Insurance Society and/or Omaha Woodmen Life Insurance Society. Not all products are available in all states.